” That, at least, is the conclusion I reached after feeding the Dow’s yearly returns into my PC’s statistical package. Try as I might to find year-to-year patterns in the data, I came up empty: Whether or not the Dow gains or loses in a given year has little to do with whether it gained [...]
We here know of the macro-situation. There are those that still resist reality, but, here it is.
In Feb. 09′, the DJIA will collapse. It will not be able to handle all the companies that will be going out of business, or, shedding their employees by the hundreds of thousands or more.
Tomorrow relish the warmth of [...]
Silva tells CNBC up to a thousand face failure or forced mergers
Financial analyst Ralph Silva of TowerGroup told CNBC this morning that he expects no less than one third of banks to fail in 2009 and that anything up to a thousand could collapse if they don’t merge.
Silva said that only five or six [...]
From The Times
December 24, 2008
Collapse of Whittard and Officer’s Club threatens hundreds more jobs
Whittard of Chelsea, the 122-year-old tea and coffee chain, went into administration yesterday as the British high street braced itself for a Christmas bloodbath.
Whittard’s 138 stores will stay open at least until the end of the year after the company’s administrator, Ernst [...]
All those deficits by institutions from PBGC to Fannie cannot be easily patched up by simply a bailout. At this point with 0% interest rate, more Fed bailouts could only mean printing more money, which means an automatic tax on every person holding US dollar. In effect, that’s spreading the pain of deficit to every [...]
The economy has entered such a dangerous phase that one wave from this collapse can send Obama packing back to Chicago from Washington. This new president has to be careful to manage this effectively…this can be a disaster. The policies of Bush administration has cost this nation 10T dollars. I am not saying this. Read [...]
Google.org, the philanthropic wing of the Internet search giant, and the Rocky Mountain Institute, an environmental research group, have teamed up to produce an intriguing map that allows users to track oil imports over time.
From Google.org’s blog:
The map highlights five eras of oil consumption, from the oil shocks of the 1970s [...]
LONDON (MarketWatch) — The London interbank offered rate, which banks charge each other for short-term loans, fell Wednesday — a day after the U.S. Federal Reserve dropped interest rates to historic lows. Three-month Libor fell to 1.58% — the lowest since July 2004 — from 1.85% on Tuesday. Libor spiked higher this fall as banks [...]
Major banks on the edge of collapse.
Auto industry facing bankruptcy.
Retail sales plummeting.
Unemployment numbers accelerating.
Housing market crumbling.
Ponzi schemes making a comeback.
Major retailers filing for BK.
Stock market down almost 50% from the highs.
Treasury notes yielding Zero.
Credit Default Swaps over 5 times GDP looming out there.
Commercial real estate market starting to crack.
(Did I forget anything?) Oh ya, $8 [...]
The “value” of a share is determined by the last “print” by someone who may or may not know what they are doing. You may have a billion shares bought at a large number of prices over time, yet the “worth” of the whole is determined by the last print? And it doesn’t matter who [...]
NEW YORK (Dow Jones)–Citigroup (C) survived last week’s stock plunge with its
earnings power intact and, with the governments move last weekend to boost the
giant banks capital levels and insure billions of dollars in assets, is able to
absorb future losses without further help, Chief Executive Vikram Pandit said
Tuesday in an interview with Charlie Rose.
The intervention over [...]
Tue Nov 25 2008 09:04:22 ET
A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts.
Professor Igor Panarin said in an interview with the respected daily IZVESTIA published on Monday: “The dollar is not [...]
The SP500 and the DOW were kind of flat for a long time, till Reagan rolled in and started the big debt binge… plus the public later with credit cards, mortgages, etc. After the tech bust, the Fed poured hydrazine into the mortgage engine… and now we got the burnout!
The commodities charts is even more [...]
“Not far away, metal, cardboard, paper and plastic are piling up in the lot of Corridor Recycling. The company takes in refuse from around the country, then bales it for shipment to China. The cardboard is used to make new boxes while used shrink wrap is turned into shoe soles and insulation for sleeping bags [...]
Citicorp has a $2 trillion balance sheet - twice the size of AIG’s, or the same size roughly as AIG and Goldman combined. Why do I use the AIG/GS analogy? Because we can assume Citi’s assets are of kind and quality as both AIG and GS. I took a look at Citi’s latest quarterly filing [...]
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